JSAC(SH:600389)2014-08-11 16:00Financial Performance - The company's operating revenue for the first half of 2014 was ¥1,668,379,911.08, a decrease of 3.75% compared to ¥1,733,414,996.16 in the same period last year[18]. - The net profit attributable to shareholders was ¥165,815,922.28, representing an increase of 26.37% from ¥131,214,573.17 year-on-year[18]. - The net cash flow from operating activities decreased by 47.68% to ¥244,802,941.27, down from ¥467,871,297.42 in the previous year[18]. - The total assets at the end of the reporting period were ¥3,113,154,271.27, a decrease of 4.87% from ¥3,272,596,028.60 at the end of the previous year[18]. - The net assets attributable to shareholders increased by 6.01% to ¥1,283,012,367.76 from ¥1,210,240,367.13 at the end of the previous year[18]. - Basic earnings per share rose to ¥0.8375, up 26.37% from ¥0.6627 in the same period last year[19]. - The weighted average return on net assets was 12.8227%, a slight decrease of 0.3139 percentage points compared to 13.1366% in the previous year[19]. - The company reported a total of ¥1,888,709.71 in non-recurring gains and losses for the period[20]. Revenue Breakdown - Revenue from pesticide products was RMB 1.258 billion, an increase of 6.61% year-on-year, while chemical products revenue decreased by 48.32% to RMB 160 million[25]. - Domestic revenue reached ¥903,130,184.70, an increase of 13.45% compared to the previous year[33]. - International revenue was ¥759,029,013.41, a decrease of 18.61% compared to the previous year[33]. Expenses and Costs - Sales expenses decreased by 21.05% to RMB 25 million, while management expenses decreased by 8.88% to RMB 89 million[24]. - The company reported a significant reduction in financial expenses by 49.86% to RMB 26 million, attributed to decreased exchange losses and lower bank loan interest[24]. - Research and development expenses were RMB 4.8 million, a decrease of 18.49% as the focus shifted to optimizing existing technologies[24]. - Total operating costs decreased to CNY 1,460,344,045.56, down 8.01% from CNY 1,587,326,331.06 in the previous year[65]. Cash Flow and Financing - The net cash flow from financing activities was -¥234,012,469.31, compared to -¥383,707,067.54 in the same period last year, indicating an improvement[72]. - The total cash inflow from financing activities was ¥2,721,661,543.50, down 22.3% from ¥3,501,913,800.00 in the previous year[72]. - The cash flow from investment activities was negative at -¥34,836,295.46, indicating a decrease in investment cash inflow compared to the previous year[75]. Shareholder Information - The company distributed cash dividends of ¥93,060,000, amounting to ¥4.7 per 10 shares based on a total share capital of 198,000,000 shares[36]. - Total number of shareholders at the end of the reporting period is 16,167[51]. - The largest shareholder, Sinochem International Corporation, holds 29.19% of shares, totaling 57,789,418 shares[52]. - The second largest shareholder, Nantong Industrial Holding Group, holds 26.54% of shares, totaling 52,544,718 shares[52]. Assets and Liabilities - The company's total current assets decreased from 934,578,509.42 RMB at the beginning of the year to 861,048,842.12 RMB at the end of the reporting period, a decrease of approximately 7.8%[59]. - Total liabilities decreased from CNY 2,062,355,661.47 to CNY 1,830,141,903.51, a reduction of approximately 11.2%[60]. - Cash and cash equivalents decreased from CNY 270,797,398.48 to CNY 196,551,776.70, a decline of about 27.4%[62]. - Accounts receivable increased from CNY 123,898,268.96 to CNY 150,965,174.82, an increase of approximately 21.9%[62]. Inventory and Receivables - The total inventory at the end of the period is 445,831,798.59, with a provision for decline in value of 6,934,832.30, leading to a net book value of 438,896,966.29[199]. - The accounts receivable at the end of the period amounted to RMB 162,456,376.35, with a bad debt provision of RMB 9,379,700.91, representing 5.77% of the total[185]. - The company’s accounts receivable aging analysis shows that 92.58% of the receivables are within one year[185]. Accounting Policies and Estimates - The company has not changed its major accounting policies during the reporting period[165]. - The company has not changed its major accounting estimates during the reporting period[166]. - The company assesses the recoverability of accounts receivable based on management's judgment and estimates, which may affect the carrying value of accounts receivable and the provision for bad debts[166]. Regulatory Compliance - The financial report for the first half of 2014 has not been audited[5]. - The company’s financial statements are prepared based on the going concern assumption and comply with the relevant accounting standards issued by the Ministry of Finance[91]. - The company’s financial reports reflect its financial position and operating results as of June 30, 2014, in accordance with the disclosure requirements of the China Securities Regulatory Commission[92].